Hardwoods Distribution Inc. Plans Quarterly Dividend of $0.10 (TSE:HDI)

Hardwoods Distribution Inc. (TSE:HDI) announced a quarterly dividend on Friday, October 15th, TickerTech reports. Stockholders of record on Friday, October 29th will be given a dividend of 0.10 per share on Friday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, October 15th.

Hardwoods Distribution stock opened at C$37.27 on Thursday. The company has a market capitalization of C$793.40 million and a P/E ratio of 11.91. The company has a debt-to-equity ratio of 73.98, a quick ratio of 0.63 and a current ratio of 1.78. Hardwoods Distribution has a fifty-two week low of C$23.10 and a fifty-two week high of C$40.80. The stock has a 50-day simple moving average of C$37.49 and a 200-day simple moving average of C$34.97.

Hardwoods Distribution (TSE:HDI) last released its quarterly earnings results on Monday, August 9th. The company reported C$1.57 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.60. The firm had revenue of C$415.31 million for the quarter, compared to analyst estimates of C$394.96 million. As a group, analysts forecast that Hardwoods Distribution will post 4.4399999 earnings per share for the current year.

Several research firms recently commented on HDI. National Bankshares upped their price target on shares of Hardwoods Distribution from C$57.00 to C$60.50 and gave the company an “outperform” rating in a research report on Tuesday, August 10th. Cormark upped their target price on shares of Hardwoods Distribution from C$47.00 to C$53.00 and gave the company a “buy” rating in a report on Friday, June 25th. CIBC reissued a “buy” rating on shares of Hardwoods Distribution in a report on Thursday, September 30th. National Bank Financial boosted their price target on Hardwoods Distribution from C$57.00 to C$60.50 and gave the company an “outperform” rating in a research report on Tuesday, August 10th. Finally, Canaccord Genuity increased their price objective on Hardwoods Distribution from C$57.00 to C$62.00 and gave the stock a “buy” rating in a research report on Tuesday, August 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Hardwoods Distribution presently has an average rating of “Buy” and a consensus target price of C$54.92.

About Hardwoods Distribution

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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Dividend History for Hardwoods Distribution (TSE:HDI)

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